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Flint Corporation opened a new store on January 1, 2024. During 2024, the first year of operations, the following purchases and sales of inventory
Flint Corporation opened a new store on January 1, 2024. During 2024, the first year of operations, the following purchases and sales of inventory were made: Purchases Sales Date Units Cost per unit Date Units Price per unit Jan. 5 11 $1,100 July 4 15 $2.100 June 11 11 1.270 Dec 29 34 2.100 Oct. 18 15 1,390 Dec. 20 18 1.630 (a) Your answer is correct. Calculate the cost of goods available for sale and the number of units of ending inventory. Cost of goods available for sale 76260 Number of units of ending inventory units Your answer is correct. Assume Flint uses weighted average periodic Calculate the cost of ending inventory, cost of goods sold, and gross profit. (Round the weighted average cost per unit to 2 decimal places, e.g. 52.75 and final answers to O decimal places, eg. 5.275.) Ending inventory Cost of goods sold Gross profit M S eTextbook and Media List of Accounts 8319 67943 34959 3 Attempts: 1 of 3 used (c) Assume Flint uses weighted average perpetual. Calculate the cost of ending inventory, cost of goods sold, and gross profit. (Round the weighted average cost per unit to 2 decimal places, eg. 52.75 and final answers to O decimal places, eg. 5.275) Ending inventory Cost of goods sold Gross profit
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